As both the new and old naira notes remain scarce around the country, operators of Point of Sale, popularly known as POS have become the new lords in Anambra State. This is because, while many people queue endlessly before bank Automated Teller Machines (ATM), and even fight themselves, even with no hope of getting cash, POS operators disburse cash to their customers effortlessly, so long as they agree to their charges. Before the redesigning of...

The Central Bank of Nigeria, CBN has appealed to Nigerians to take advantage of the ten days extension for the old two hundred, five and one thousand naira to cease as legal tender and deposit in their Bank accounts old naira notes in their possession before the expiration of the deadline. The Apex Bank made the plea through the Director of Internal Audit of the Bank, Mrs. Alpha Lydia Ifeanyi Chukwu while addressing market men and...

President Muhammadu Buhari has approved a request by the Central Bank of Nigeria (CBN) to extend the deadline for the use of the old N200, N500, and N1000 notes by ten days. Godwin Emefiele, the CBN governor announced the approval in a statement on Sunday after a meeting with the president in his country home in Daura, Katsina State. “Based on the foregoing, we have sought and obtained Mr President’s approval for the following: A...

The Central Bank of Nigeria has revealed that redesigning the top three denominations of the naira notes was not targeted at any group but a step taken in the interest of the nation and her people as it will strengthen the economy. The Deputy Director of Human Resources, CBN Mr. Chris Eze stated this at a sensitization of stakeholders on the currency redesign held on Saturday at the Main Market, Ogbete Enugu. “The new naira...

Five days ago, a Twitter user, @Fluffy_Naz created awareness of the low quality of the redesigned N200, N500 and N1000 banknotes. She claimed that her sister forgot the new N500 banknote in her pocket and washed the cloth only for the colours to fade. Raising the alarm, she said, “If rain drenches you and this money is your only hope, you’d be stranded.” So my sis forgot the new currency in her pocket and washed...